Business Services Industry
Metso Corporation receives EUR51m tax benefit
Nordic Business Report, Oct 30, 2003
NORDIC BUSINESS REPORT-30 October 2003-Metso Corporation receives EUR51m tax benefit(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish process industry machinery and systems supplier Metso Corporation said on Thursday (30 October) that it had received a decision from the Finnish tax office for major corporations regarding the goodwill impairment of EUR205m in its subsidiary Metso Minerals.
According to the decision, EUR175m of the goodwill impairment had been accepted as tax-deductible, the company said.
Metso said that it would recognize the corresponding tax benefit of EUR51m in the fourth quarter of 2003.
One euro (EUR) is worth approximately 0.7 British pounds (GBP).
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